Iraq’s Crude Production Hits 20-Year High

Bloomberg reports that Iraq’s crude output rose to its highest level in 20 years, as CNPC‘s Halfaya oilfield ramped up production.

Abdel Ilah Qassem al-Amir, a spokesman for Deputy Prime Minister for Energy Affairs Hussain al-Shahristani, told Bloomberg on Tuesday that output exceeded 3.07 million bpd.

The Director General of the Missan Oil Company said last week that production at Halfaya will rise to 70,000 barrels a day in the first week of July.

Iraq has ambitious plans to increase oil production over the coming years.

(Source: Bloomberg)

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